“ Gazprom oil “ has redeemed 51 % Serbian NIS for ˆ400 million

Open Society “ Gazprom oil “ has finished the transaction on acquisition of 51 % of actions of Serbian company NIS at the price of 400 million euro according to purchase and sale treaty provisions between the company and the government of Serbia. On it informs a press - service “ oil Gazprom “. the Agreement on sale NIS also provides the program of reconstruction and modernisation of technological complex NIS to 2012ã. A minimum of 500 million euro. Within the limits of the program it is planned to raise quality of made oil products to the all-European standards (“ Euro - 5 “) . Besides, considerable investments will be directed on increase of ecological safety of productions. according to head “ oil Gazprom “ Alexander Djukova, the company intends to transform NIS in “ the leader of oil branch Jugo - the Eastern Europe “. Russia and Serbia have signed on January, 25th 2008ã. The intergovernmental cooperation agreement in oil and gas sphere for 30 years. The report on the basic terms of sale of 51 % Serbian NIS Russian &quot has been simultaneously signed; oil Gazprom “. Arrangements between the Serbian government and Gazprom provide the package transaction: sale of a state block of shares of the Serbian oil company without the tender “ oil Gazprom “ reconstruction and modernisation NIS, a lining through Serbia 400 - a kilometre branch of a gas pipeline “ the Southern stream “ which build Gazprom and Italian ENI. Besides, it is supposed that Gazprom will complete underground storehouse of gas “ Banatski the Court yard “ in territory of Serbia. The parties also have agreed that “ Serbijagaz “ will increase the share in “ JUgorosgaz “ from 25 % to 49 %. “ JUgorogaz “ is engaged in designing, building, operation of gas pipelines, sale and transit of natural gas. Now Gazprom in it posesses 50 %, “ Serbijagazu “ - 25 %; Central ME Energy and Gas AG - 25 %. The parliament of Serbia after some delays ratified the oil and gas agreement from the Russian Federation on September, 9th 2008ã. NIS is vertically integrated company. Volumes of extraction NIS make 1 million t in a year, processing - 7 million t oil in a year. The company possesses own marketing network (about 500 gas stations and tank farms), it posesses oil refining factories in the cities of Panchevo and Novi - the Garden total capacity of 7,3 million t in a year.